The old adage: “You get what you pay for,” is applicable to the cheap health insurance coverage. But, more and more underinsured are bamboozled by marketing jargon and the fine print exclusions. For some 40+ million Americans without health insurance, there is a lack of consumer information about buying a medical insurance policy.
During the onset of the 21st century, a series of health insurance companies scammed at least 100,000 American consumers, absconding them with $85 million worth of hospital bills. The problem with the cheap health insurance coverage myth is that by the time “policyholders” realize their medical insurance is worthless, it’s too late. It happens about the time an authorization or unforeseen hospitalization is necessary.
In Elgin, Illinois, Harry Dale ran a thriving landscaping business, when he had a heart attack. After recovery, his insurance company was nowhere to be found to pay the hospital bills. Long about collection time, the insurance policy that he bought two years ago was worthless.
Today, these bogus cheap health insurance policies are national, affecting people in Illinois and across the nation. From the discount medical card, the dreaded disease policy (a policy which says that it covers chronic ailments such as cancer, heart disease) to the faith-based health plan, these inexpensive health scams cost the consumer in the end.
The cheap health insurance inflicts an aftermath of financial devastation. Once the unsuspecting policyholder develops an illness, necessitating hospital stay, these illicit insurance companies disappear without a trace. Meanwhile, consumers are saddled with an outrageous hospital bill, and the stigma of a “pre-existing medical condition,” rendering them uninsurable.
Fortunately, there are two tactics to prevent being the next victim of Illinois health insurance fraud.
1. Conduct your own research by checking out the health insurance agency. Confirm that the insurance provider has an updated license and does not have any complaints. In cases, where the provider alleges a regulatory exemption and / or is not licensed in Illinois, move onto another health insurance provider.
2. Search for a reputable insurance agent. Even though the insurance provider will not guarantee cheap health insurance coverage in Illinois, a legitimate policy will prevent any unforeseen medical expenditures and a health plan with a known insurance provider.